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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
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- PTC India Limited - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- The University of Queensland
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
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